The International Monetary Fund: A Brief on What it Actually Is

We all know about the Federal Reserve system and the central banks across the globe, but how many know about the biggest fiat currency producer, the IMF? The international Monetary Fund gives "liquidity to world markets" by providing a medium of exchange. The IMF, unbeknownst to most, is a global bank which prints it's own fiat currency called special drawing rights (SDR). Member countries are given holdings of SDRs based upon their global economic standing. The holdings give member banks interest bearing assets in exchange for providing currency. There are 5 member banks that provide currencies; United States Dollars, Chinese Yuan, European Euro, English Pound Sterling and Japanese Yen. It is basically an asset drawing value from its basket of currencies.

But where did it come from? Well the IMF was established in the Bretton Woods Agreement in 1944 subsequent to the great depression. The Great depression, as I explained in quick history #3 (https://steemit.com/politics/@americana-reboot/the-great-depression-1929-through-1941-quick-history-3), was derived from the global community trying to manage global finance. After the U.S. dropped the gold standard in the 1970's the SDR "came of age" growing to world adoption. SDRs can be used by any country globally and it is typically used for international commerce.

The problem is that we are now under the umbrella of a global central bank, which is bold enough to state it will manage international financial stability. It is still a bank using fiat currency, it is still printing money and issuing interest bearing assets to member banks. We are ballooning our banking and debt issues from having no central bank prior to the civil war, to the Federal Reserve in 1913, to the global community during the roaring 20's And finally to the IMF that we're currently under. During the 2008 housing crisis, which had global impact, we saw the U.S. treasury start printing away, allowing the Federal Reserve to increase its holdings. That was risky, but most do not realize the IMF also began printing, increasing their balance sheet.

It looks to me we are delaying inevitable global insolvency by allowing more and more debt to be acquired, increasing in scope, banking entities. By the fact we have submitted ourselves to banking institutions, setting the very cost of living by managing inflation, we're not free. Our lives and well being are managed by a corporate-esque elite, who regard our freedoms and desires with discontent.